Boltwood Capital Management Has $612,000 Stake in International Business Machines Co. (NYSE:IBM)

Boltwood Capital Management lessened its stake in International Business Machines Co. (NYSE:IBM) by 42.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,782 shares of the technology company’s stock after selling 2,081 shares during the quarter. Boltwood Capital Management’s holdings in International Business Machines were worth $612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its stake in International Business Machines by 40.9% in the 3rd quarter. Meeder Asset Management Inc. now owns 572 shares of the technology company’s stock valued at $126,000 after purchasing an additional 166 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in International Business Machines in the 2nd quarter valued at approximately $7,160,000. Philip James Wealth Mangement LLC purchased a new stake in shares of International Business Machines during the third quarter worth $5,117,000. Lord Abbett & CO. LLC bought a new position in shares of International Business Machines in the third quarter worth $24,761,000. Finally, Aljian Capital Management LLC purchased a new position in shares of International Business Machines in the third quarter valued at $611,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

International Business Machines Trading Up 0.2 %

Shares of NYSE IBM traded up $0.55 during midday trading on Monday, hitting $223.20. 819,209 shares of the company traded hands, compared to its average volume of 2,391,290. International Business Machines Co. has a 12-month low of $157.88 and a 12-month high of $239.35. The stock has a 50-day moving average price of $220.54 and a 200 day moving average price of $207.78. The company has a debt-to-equity ratio of 2.16, a quick ratio of 1.01 and a current ratio of 1.06. The firm has a market cap of $206.38 billion, a P/E ratio of 32.49, a P/E/G ratio of 5.18 and a beta of 0.74.

International Business Machines (NYSE:IBM) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. The business had revenue of $14.97 billion during the quarter, compared to analyst estimates of $15.08 billion. International Business Machines had a return on equity of 40.52% and a net margin of 10.22%. The company’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.20 earnings per share. As a group, analysts expect that International Business Machines Co. will post 10.12 earnings per share for the current year.

International Business Machines Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 10th. Shareholders of record on Tuesday, November 12th were paid a dividend of $1.67 per share. This represents a $6.68 dividend on an annualized basis and a dividend yield of 2.99%. The ex-dividend date was Tuesday, November 12th. International Business Machines’s dividend payout ratio is 97.23%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on IBM. Morgan Stanley lifted their target price on International Business Machines from $208.00 to $222.00 and gave the company an “equal weight” rating in a report on Monday, December 16th. Bank of America increased their target price on shares of International Business Machines from $209.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Bernstein Bank boosted their price target on shares of International Business Machines from $185.00 to $210.00 and gave the company a “market perform” rating in a research report on Thursday, October 3rd. Jefferies Financial Group increased their price objective on International Business Machines from $200.00 to $245.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Finally, Evercore ISI boosted their target price on International Business Machines from $215.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, International Business Machines presently has an average rating of “Hold” and a consensus price target of $214.88.

Insider Transactions at International Business Machines

In other news, SVP Nickle Jaclyn Lamoreaux sold 3,600 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $215.20, for a total value of $774,720.00. Following the sale, the senior vice president now directly owns 25,390 shares of the company’s stock, valued at approximately $5,463,928. This represents a 12.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.07% of the company’s stock.

International Business Machines Profile

International Business Machines Corporation, together with its subsidiaries, provides integrated solutions and services worldwide. The company operates through Software, Consulting, Infrastructure, and Financing segments. The Software segment offers a hybrid cloud and AI platforms that allows clients to realize their digital and AI transformations across the applications, data, and environments in which they operate.